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EssentialThe Essential Conversation

How Russia Blew a Big Hole in the Oil Market

Featuring Jared Dillian and Warren Pies

Jul 08, 2022 • 37 minutes

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Essential

The Essential Conversation

How Russia Blew a Big Hole in the Oil Market

Slowing short-term demand won't fix long-term supply constraints.

Featuring Jared Dillian and Warren Pies

Jul 08, 2022 • 37 minutes

Crude oil has slumped in recent weeks, as investors price in the potential impact of a global economic downturn on demand. That’s the short term. Warren Pies is focused on the long term, and he’s sticking to his bullish outlook for West Texas Intermediate and energy stocks. Pies, in conversation with Jared Dillian, the editor of The Daily Dirtnap, says demand destruction is inevitable during a recession. But what has and will take place is not sufficient to offset the deficit created by Russia’s invasion of Ukraine and the sanctions imposed on Moscow and its hydrocarbon exports. Absent a change in the international community’s attitude, Warren sees crude oil reaching new all-time highs sooner rather than later. Recorded on July 5, 2022. Show More

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

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The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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